Politico’s Darren Samuelsohn transcribed a recent report from the Congressional Budget Office on the Democrats latest cap and trade energy tax bill for Politico July 7th:

The CBO analysis of the American Power Act, championed by Sens. John Kerry (D-Mass.) and Joe Lieberman (I-Conn.) found that government revenues would grow by about $751 billion from 2011 to 2020 if the bill became law. By contrast, the legislation would create direct spending of $732 billion over the same 10-year period.

This is all true, but Samuelsohn ignores some elementary criticism of how the CBO is forced to score legislation by Congress. The … Continue Reading